Editorial: Target breach highlights importance of keeping data safe

Published: Tuesday, December 24, 2013 at 02:42 PM.

Not everyone has peace and goodwill at heart this holiday season. At the time of year when Americans are most generous with their hard-earned money, a major security breach may have affected 40 million customers who shopped at Target between Nov. 27 and Dec. 15. It is one of the largest security failures in recent memory, and both corporate and federal investigators should do all they can to keep the public informed.

Forty-million credit card numbers — and the security codes that help protect against fraud – were taken. That means the thieves could sell the numbers and create new cards.

Debit card numbers were also stolen, but as of Friday morning there was no indication that PIN numbers were taken.

That does not mean everyone who shopped at Target will be the victims of fraudulent charges, but it is disturbing to think that a supposedly secure transaction was not so safe after all. But banks and credit card companies urge their customers to keep a close eye on their statements now and in the coming months for fraudulent charges. Those institutions also monitor customer accounts and are on alert for unusual or suspicious charges.

Customers aren't liable for fraudulent transactions, but it also might pay to be extra cautious. A top security blogger advises that anyone who is worried that their personal information was stolen should ask their bank and creditors to reissue cards or change security and PIN numbers.

We pay a high price for the convenience of technology. Where cash was the currency of days past, today we think nothing of swiping our debit or credit cards instead of using cash. It is easier and often faster, and we are oh, so busy — especially at this giving time of year.

But the fact that plastic makes purchasing so easy requires that retailers, credit card companies and their account security experts make doubly sure that our sensitive financial information doesn't fall into the wrong hands. Target's security team is looking into the issue, along with federal regulators and a variety of security experts.

Not everyone has peace and goodwill at heart this holiday season. At the time of year when Americans are most generous with their hard-earned money, a major security breach may have affected 40 million customers who shopped at Target between Nov. 27 and Dec. 15. It is one of the largest security failures in recent memory, and both corporate and federal investigators should do all they can to keep the public informed.

Forty-million credit card numbers — and the security codes that help protect against fraud – were taken. That means the thieves could sell the numbers and create new cards.

Debit card numbers were also stolen, but as of Friday morning there was no indication that PIN numbers were taken.

That does not mean everyone who shopped at Target will be the victims of fraudulent charges, but it is disturbing to think that a supposedly secure transaction was not so safe after all. But banks and credit card companies urge their customers to keep a close eye on their statements now and in the coming months for fraudulent charges. Those institutions also monitor customer accounts and are on alert for unusual or suspicious charges.

Customers aren't liable for fraudulent transactions, but it also might pay to be extra cautious. A top security blogger advises that anyone who is worried that their personal information was stolen should ask their bank and creditors to reissue cards or change security and PIN numbers.

We pay a high price for the convenience of technology. Where cash was the currency of days past, today we think nothing of swiping our debit or credit cards instead of using cash. It is easier and often faster, and we are oh, so busy — especially at this giving time of year.

But the fact that plastic makes purchasing so easy requires that retailers, credit card companies and their account security experts make doubly sure that our sensitive financial information doesn't fall into the wrong hands. Target's security team is looking into the issue, along with federal regulators and a variety of security experts.

The public needs to know, as soon as possible, how this happened and what is being done to a) catch and prosecute those responsible and b) to prevent a similar breach. This is not an isolated incident. In recent memory we have read about a number of high-profile cases in which credit and/or debit card numbers were stolen from institutions with high-dollar protections against theft.